MILE News

BDI held its 2nd Chairman Summit at the Four Seasons Hotel, in Riyadh, Kingdom of Saudi Arabia, last Thursday 18 September 2014. Co-sponsored by Saudi Aramco and SABIC, the Chairman Summit attracted over 60 chairmen and senior Board directors from leading organizations across the Gulf.

The Summit's prime objective is to stimulate dialogue on matters of particular interest to chairmen and their contribution in achieving and enhancing Board effectiveness and corporate governance standards within their respective organizations. "We are pleased with the continuing success and increasing momentum of the GCC Board Directors Institute. This young not-for-profit organization, which was established in 2007 based on a visionary seed planted by Saudi Aramco aiming to make a positive impact on the GCC economies and societies by raising the level of Board effectiveness, is now in full gear," said Mr. Abdallah Al-Saadan, Senior Vice President- Finance, Strategy & Development of Saudi Aramco.

Mr. Al-Saadan added: "The various workshops, Board members' development tools and techniques, world-class faculty who lead focused interactive sessions to address relevant Board issues, and the flagship program "Chairman's Summit" are making tremendous strides towards achieving the original vision. The attendance of a large number of leading chairmen, Board members, CEOs, CFOs, regulators and consultants is a great testimony to the success of BDI, and a confirmation that it is filling a critical gap in the region. Saudi Aramco continues to believe that the positive impact BDI has been making in promoting and strengthening effective directorship will continue to expand over time. Based on that, our company will continue to lend its full support to BDI for the benefit of our region."

"Again, Saudi Aramco, and I am sure the other founding members and partners of BDI, are pleased with BDI's continued success, growing role, positive reputation, and increasing contribution towards sustainable prosperity within the GCC region," further said Mr. Al-Saadan.

"SABIC is honored to co-sponsor with Saudi Aramco this prestigious event. We are extremely delighted with the outcome of the Summit and its success in raising awareness in regards to the Chairman's unique role in ensuring Boards achieve and maintain higher levels of corporate governance practices," said Mr. Mutlaq H. Al-Morished, CFO of SABIC and Chairman of BDI.